Sendero Wealth Management, LLC

Key Holdings and Their Significance

• VTI (Vanguard Total Stock Market ETF): $194.24M (21.53% of portfolio). This single ETF is the largest holding and constitutes one-fifth of the entire reported portfolio, serving as a clearly dominant core exposure to the broad U.S. equity market.
• 2023 ETF SERIES TRUST: $76.26M (8.45%). A large pooled vehicle (classification not fully detailed here) that materially increases passive/pooled exposure when combined with VTI and other ETFs.
• AMERICAN BEACON SELECT FUNDS: $51.53M (5.71%). A significant non-ETF pooled position, suggesting use of actively managed strategies alongside index exposures.
• Large-cap technology/FAAMG exposures: NVDA $32.17M (3.57%), GOOGL $29.20M (3.24%), MSFT $27.12M (3.01%), AMZN $21.59M (2.39%), META $10.10M (1.12%), AAPL $5.57M (0.62%). These single-stock positions are meaningful satellite bets on large-cap growth names and sit on top of the broad ETF core.
• Other meaningful ETF and index exposures include ITOT $31.85M (3.53%), GNR (SPDR index) $14.99M (1.66%), VOO $12.88M (1.43%), SCHD $5.50M (0.61%), IWF $4.22M (0.47%), XLK $3.78M (0.42%). Total ETF allocation aggregates to ~29.7% and is spread across total market, large-cap, sector, and dividend index strategies.

Implication: the portfolio appears to use a “core” made up of broad-market ETFs and large pooled funds, with “satellite” active single-stock and sector positions concentrated in technology and select sectors.